THE BALANCE SHEET

The balance sheet is an image of the company at a

particular time. Includes assets and liabilities, providing
information on the equity of the company. In other
words, a balance sheet is a summary of everything that
the company, what should what should and what really
belongs to its owner, to a certain date. In preparing the
balance sheet the employer obtains valuable information
about your business such as the status of their debts,
which must charge or the availability of money at the
time or in the near future.
The balance sheet has two parts, assets and liabilities.
The active shows the assets of the company, while
detailing their financial liabilities origin. The law
requires that this document is true and fair view of the
net worth of the company.
The balance sheet shows in monetary financial situation
of a company or economic entity on a specific date, also
intends to show the nature of the economic resources of
the company, and the rights of creditors and
participation owners.
The balance sheet is a statement of financial position and
includes classified and grouped into three main groups
information: assets, liabilities and capital. As for its
importance, it is a primary state and is considered the
most important financial statement.
The term "balance" used to refer to this statement is not
the best; the term "balance sheet" balance comes from
doing one hand the list of goods that are available and on
the other individuals, companies or institutions meeting
the business.
2.
ASSETS LIABILITIES

PARTES OF A
BALANCE
SHEET

HERITAGE
2.1 ACTIVE
Assets can be defined as the set of real and personal
property and rights that have property, and any costs
or expenses incurred prior to the balance sheet date,
which must be applied to future income. In other
words, assets are all assets that the company owns
and value such as:

The cash on hand and in banks.

Accounts receivable from
customers
Raw materials in stock or stock
Machines and equipment
vehicles
Furniture and fixtures
The buildings and grounds
The assets of a company can be classified in
order of liquidity into the following categories:
current assets, fixed assets and other assets.

Furthermore, and according to the author,

there are other ways of classifying assets. One
classifies into three main groups: Circulating,
Fixed and Deferred Charges. Other recognizes
two groups: Current Assets and Noncurrent.
The fundamental basis for the distinction
between current and noncurrent is primarily
the purpose for which the investment is made,
ie if it is permanent or not.
2.2 LIABILITIES
It is everything the company owes. The liabilities of a company can be
classified in order of enforcement in the following categories.

? Current liabilities and short term.

? Long-term liabilities
? Other liabilities.
2.3 HERITAGE

In accounting language heritage, can be defined as the set

of assets, rights and obligations has an economic unit at a
given date, and that is precisely the material under study
accounting. It is the value that belongs to the employer on
the date of the balance sheet. Thisconsists of the Capital
and RetainedEarnings
3.TIPES OF BALANCE OF SHEET
3.1. Comparative Balance Sheet
Statement in which the different elements in it in relation to one or
more periods, in order to show the changes in the financial position of
a company and facilitate analysis are compared.

3.2 Consolidated Balance Sheet

It is one that shows the financial position and results
of operations of an entity composed of the holding
company and its subsidiaries, as if all constitute a
single economic unit.
3.3- Balance Sheet Estimative
It is a financial statement prepared to preliminary data, which are
usually subject to rectification.

3.4- Proforma Balance Sheet

Accounting statement showing tentative amounts,
prepared to show a proposal or a probable future
financial situation.
Operational Financial Balance

3.5- Public Sector

Statement showing the financial transactions of
revenues, expenditures and deficit of the
departments and agencies of the Federal Public
Sector deducted from the offset transactions
between them.
3.6- Balance Budget
Balance arising from comparing the revenues and expenditures
of the Federal Government's parastatal entities under direct
budgetary control.

3.7- Public Sector Primary Balance

The primary balance is equal to the difference between total
revenues and total public sector expenditure, excluding interest.